In vitro Diagnostic (IVD), are medical devices, reagents and accessories used to perform tests on samples, (e.g., blood, urine and tissue) taken from the human body. The Global In-Vitro Diagnostics Market is expected to grow at a CAGR of 6.5% during forecasted period 2018-2023.

There are number of factors driving growth of the market – aging population, notably cancer and infectious disease in developing countries. Rising acceptance of molecular diagnostics in personalized medicine, increasing prevalence of lifestyle and chronic diseases, increasing number of private diagnostic centers.

According to WHO, it is the second most common type of cancer in women. Every year 200,000 new cases are diagnosed worldwide and this number is continuously increasing. Prevalence of breast cancer is more common in developed countries compare with developing countries. Moreover, adoption of unhealthy lifestyle, exposure to harmful radiation, increasing geriatric population and increasing governmental initiatives also contributed in the growth of the market.

On the regional basis, the market is segmented into America, Europe, Asia Pacific and Middle East and Africa.

America dominates the Global market for In-Vitro Diagnostics. Increasing demand for the advanced techniques and In-Vitro Diagnostics and higher expenditure are the major factors for growth of the America market.

Europe records the second largest market share followed by Asia Pacific. Asia Pacific is fastest growing market. Due to increasing prevalence of chronic diseases, increasing number of private diagnostic centers are driving forces for growth of the market. Lack of proper reimbursement policies in the developing countries and strict FDA regulations are the main restraints for the growth of the IVD market.

On the other hand, in the Middle East and Africa, blood disorders have become a huge problem due to limited screening, ignorance of diseases, and poor access to treatment.

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